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investors to build roads, the olympic facilities, et cetera. at the same time tax evasion and tax cuts for the rich did not allow, did not allow us to have a balanced budget all previous years. and so, therefore, when the markets crash in 2008 both spain and greece were heading on the road towards disaster. in spain, just like in ireland, the housing market crashed, prices still, people ended up with homes that were worth less than their loans. many people went bankrupt. when banks started having problems, the government intervened and took on its debts in this way, both banks and government went bankrupt. increase, the government directly went bankrupt because it was the one that had borrowed to a very high degree after words. the governments that had lent money to the state also went bankrupt. and afterwards investors themselves went bankrupt. very soon if the entire country had gone bankrupt. due to the structure of the euro zone where countries without a central bank behind them needed -- bailout of the banks and where the banks needed to continue lending money to bankrupt states,
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